All Financial Services articles – Page 76
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Capital One announces massive data breach
Capital One Financial announced a hacker obtained the personal information of approximately 100 million individuals in the United States and approximately six million individuals in Canada.
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SEC: Transition from LIBOR has taken on ‘urgency’
Regulators are starting to freak out a little over what will happen in U.S. financial markets in 2021 when a major benchmark interest rate is expected to vanish.
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InvestEdge updates compliance monitoring system
InvestEdge, a provider of financial advisory solutions, announced the release of Compliance Middle Office Management as a new addition to its compliance monitoring system.
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ArticleFINRA issues clarifying guidance on ‘extraordinary cooperation’ credit
The Financial Industry Regulatory Authority has issued supplemental guidance clarifying how companies and individuals that demonstrate “extraordinary cooperation” in investigations can receive enforcement credit.
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Agencies exclude community banks from the Volcker Rule
Five federal financial regulatory agencies announced this week they have adopted a final rule to exclude community banks from the Volcker Rule.
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FDIC report: Five common consumer compliance issues
The FDIC recently issued the first edition of its “Consumer Compliance Supervisory Highlights” report, intended to enhance transparency around consumer compliance supervisory activities.
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Hong Kong’s SFC bans former Goldman Sachs officer for life
Hong Kong’s Securities and Futures Commission has banned Tim Leissner, a former participating managing director at Goldman Sachs (Asia), from re-entering the industry in connection with his crimes relating to 1MDB.
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ArticleStudy: Financial firms don’t know what they don’t know on climate risks
Financial institutions still struggle with how to manage risks posed by climate change, according to a new report.
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ArticleFive ‘essential components’ of a sanctions compliance program
Chief compliance officers got some much-needed guidance on how to build a well-crafted sanctions compliance program thanks to the recent OFAC framework.
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Genstar Capital names chief compliance officer
Genstar Capital, a private equity firm, has appointed Carolyn Greenwalt as chief compliance officer.
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ArticleCECL in summer: Get ready for models, data, auditors
It may be summertime, but the living is not so easy for corporate finance staff preparing for CECL—a major change to the reporting of credit losses.
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State Street to pay $88.8M for mutual fund overcharges
State Street will pay $88.8 million to resolve charges with the SEC that it overcharged mutual funds and other registered investment company clients for expenses related to the firm’s custody of client assets.
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UBS compliance officer convicted of insider trading
A London Southwark Crown Court jury on June 27 convicted two individuals—a senior compliance officer of UBS and a day trader of financial securities—and sentenced them to three years’ imprisonment for insider trading.
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FCA fines BOS over failure to report fraud suspicions
Bank of Scotland (BOS) has been slammed with a £45.5 million (U.S. $57.8 million) fine by the Financial Conduct Authority for failing to inform authorities of its suspicions that a BOS turnaround unit was committing fraud.
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Wedbush to pay more than $8.1M for improper handling of ADRs
Wedbush Securities will pay more than $8.1 million to settle charges for the improper handling of “pre-released” American Depositary Receipts.
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Compliance.ai upgrades RCM solution
Compliance.ai announced the availability of new features to its Modern Regulatory Change Management solution.
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ArticleICBC to pay more than $42M for improper handling of ADRs
Industrial and Commercial Bank of China Financial Services will pay more than $42 million to settle charges with both the Securities and Exchange Commission and the Department of Justice for the improper handling of “pre-released” American Depositary Receipts.
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FCA publishes final report on RBS
The Financial Conduct Authority has concluded its investigation into the Royal Bank of Scotland and published a final report of its findings.
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ArticleReps continue push for big bank diversity data
Members of the House Financial Services Committee have sent letters to 37 bank holding companies requesting their diversity and inclusion data.
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Report says more companies address climate change, struggle with disclosures
A task force on climate-related financial disclosures found “encouraging progress” in its latest report, though there’s still work to be done when considering financial risks.